PPG Industries Inc. (PPG) PT Lowered to $106.00 at Royal Bank Of Canada
PPG Industries Inc. (NYSE:PPG) had its target price trimmed by Royal Bank Of Canada from $125.00 to $106.00 in a research report released on Tuesday morning. The firm currently has an outperform rating on the stock.
Several other analysts have also recently commented on PPG. Morgan Stanley reiterated a hold rating on shares of PPG Industries in a research note on Thursday, June 16th. Zacks Investment Research cut shares of PPG Industries from a buy rating to a hold rating in a research note on Tuesday, July 12th. Credit Suisse Group AG reiterated a buy rating on shares of PPG Industries in a research note on Wednesday, June 15th. Seaport Global Securities upgraded shares of PPG Industries from an accumulate rating to a buy rating and lifted their target price for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. restated a buy rating and set a $120.00 target price on shares of PPG Industries in a research report on Friday, June 17th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $115.46.
PPG Industries (NYSE:PPG) opened at 92.12 on Tuesday. The stock has a 50 day moving average of $102.02 and a 200 day moving average of $106.53. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 17.02 and a beta of 1.47. PPG Industries has a one year low of $88.37 and a one year high of $117.00.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The firm earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter last year, the business earned $1.67 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts forecast that PPG Industries will post $6.17 earnings per share for the current year.
In related news, insider Viktoras R. Sekmakas sold 40,950 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total value of $4,366,908.00. Following the completion of the sale, the insider now directly owns 69,044 shares in the company, valued at $7,362,852.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the sale, the vice president now owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Cypress Wealth Advisors LLC acquired a new stake in PPG Industries during the first quarter valued at about $217,000. Zebra Capital Management LLC acquired a new stake in PPG Industries during the first quarter valued at about $988,000. Mirae Asset Global Investments Co. Ltd. increased its stake in PPG Industries by 25.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,371 shares of the company’s stock valued at $1,602,000 after buying an additional 2,937 shares in the last quarter. BB&T Securities LLC increased its stake in PPG Industries by 167.6% in the first quarter. BB&T Securities LLC now owns 11,081 shares of the company’s stock valued at $1,235,000 after buying an additional 6,940 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in PPG Industries by 3.6% in the first quarter. Canada Pension Plan Investment Board now owns 803,764 shares of the company’s stock valued at $89,612,000 after buying an additional 27,560 shares in the last quarter. Hedge funds and other institutional investors own 73.04% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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